2x Bitcoin Strategy ETF (NYSEARCA:BITX) Shares Gap Up – Here’s What Happened

Shares of 2x Bitcoin Strategy ETF (NYSEARCA:BITX) gapped up prior to trading on Friday . The stock had previously closed at $14.39, but opened at $15.22. 2x Bitcoin Strategy ETF shares last traded at $15.45, with a volume of 2,931,604 shares.

2x Bitcoin Strategy ETF Stock Performance

The firm has a 50 day simple moving average of $26.75 and a two-hundred day simple moving average of $42.21.

Hedge Funds Weigh In On 2x Bitcoin Strategy ETF

Large investors have recently bought and sold shares of the stock. Heritage Wealth Advisors acquired a new stake in shares of 2x Bitcoin Strategy ETF in the 4th quarter worth approximately $55,000. EverSource Wealth Advisors LLC lifted its position in 2x Bitcoin Strategy ETF by 203.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 52,889 shares of the company’s stock worth $1,467,000 after purchasing an additional 35,432 shares during the period. Kingswood Wealth Advisors LLC boosted its stake in 2x Bitcoin Strategy ETF by 1.3% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 234,335 shares of the company’s stock valued at $6,500,000 after purchasing an additional 2,985 shares in the last quarter. Silverleafe Capital Partners LLC boosted its stake in 2x Bitcoin Strategy ETF by 13.3% during the 3rd quarter. Silverleafe Capital Partners LLC now owns 11,373 shares of the company’s stock valued at $626,000 after purchasing an additional 1,331 shares in the last quarter. Finally, Highline Wealth Partners LLC bought a new stake in shares of 2x Bitcoin Strategy ETF in the 3rd quarter worth $28,000.

About 2x Bitcoin Strategy ETF

The 2x Bitcoin Strategy ETF (BITX) is an exchange-traded fund that is based on the S&P CME Bitcoin Futures Daily Roll index. The fund aims to provide 2x the daily price movements of an index based on rolling front-month CME bitcoin futures. BITX was launched on Jun 27, 2023 and is managed by Volatility Shares.